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    Noddle Credit Rating

    Hi,

    Not sure if this is the right place to discuss or ask. If not, please guide where to go.

    I registered with Noddle following one of HUKD Freebies deal in March 2014. I checked the Credit Rating given by Noddle which was 3 out of 5.

    After a month, I received an email suggesting a new report is ready for me. When I checked it, the rating gone down to 2 out of 5.

    Nothing has changed since the last report but the rating is down. I am not able to find any reason for that.

    The following things happened during the last 30+ days:

    1. I found an error on Barclay's Credit Card report where due to a system error my monthly payments was not accepted and got late by few days. I called them asked to rectify as it was not a customer fault and they promised not to reflect this on my credit file.

    2. Moved some balance from one credit card to another to save some money utilising an offer from my card provider. Although the card was fully utilised in this offer (i.e. 100% balance was used, first time in life I have used a credit card to it's fullest).

    There was not any other activity on any of my accounts.

    Can anyone please advise, looking at the activities, why my rating went down?

    Many thanks for reading this and for your guidance.

    Regards

    11 Comments

    "I registered with Noddle following one of HUKD" following one of hukd what?

    Original Poster

    oliverkennedy10

    "I registered with Noddle following one of HUKD" following one of hukd … "I registered with Noddle following one of HUKD" following one of hukd what?



    Oops, typo missing thing. Now updated.

    Don't worry about the Noddle thing, a lot of people with brilliant credit records state that they are a 1/5. Eeek. oO It has never affected them when trying to get credit.

    I bet if you check with another credit reference agency they will be the total opposite of Noddle.

    Mine did the exact same thing this month - weird, as nothing has changed at all... Maybe its a blip, or we were on borderline before, and are now in the lower category?

    Original Poster

    NEtech

    Don't worry about the Noddle thing, a lot of people with brilliant credit … Don't worry about the Noddle thing, a lot of people with brilliant credit records state that they are a 1/5. Eeek. oO It has never affected them when trying to get credit.I bet if you check with another credit reference agency they will be the total opposite of Noddle.



    Ha ha ha. If that's the case then I am good. I am planning to take out mortgage next year so started looking at these things and keeping things correct and at right level.

    Hope this is just a personal rating from Noddle and nothing extra.

    Thank you.

    Original Poster

    Pr3cious18

    Mine did the exact same thing this month - weird, as nothing has changed … Mine did the exact same thing this month - weird, as nothing has changed at all... Maybe its a blip, or we were on borderline before, and are now in the lower category?



    I don't think it's a borderline issue. My wife had the same rating and her's still the same in next month but not mine oO

    The Noddle credit rating is completely and utterly pointless.

    I and my GF have an account. It's hilarious to watch them both go up and down randomly. No change in either of our circumstances whatsoever, none at all.

    I am currently sat at 3/5 which is the same as my GF. My GF has a spotless record and is accepted by all she applies to. I have 2x defaults (paid) and struggle to be accepted for any credit.

    It's a random, pointless and useless number aimed at trying to get you to pay for their services to improve your rating.

    Noddle is only useful as a guide to 1x (and the smallest and least used too) of the CRFs.

    Original Poster

    dantesfireplace

    The Noddle credit rating is completely and utterly pointless.I and my GF … The Noddle credit rating is completely and utterly pointless.I and my GF have an account. It's hilarious to watch them both go up and down randomly. No change in either of our circumstances whatsoever, none at all.I am currently sat at 3/5 which is the same as my GF. My GF has a spotless record and is accepted by all she applies to. I have 2x defaults (paid) and struggle to be accepted for any credit.It's a random, pointless and useless number aimed at trying to get you to pay for their services to improve your rating.Noddle is only useful as a guide to 1x (and the smallest and least used too) of the CRFs.



    Thanks for clarifying this mate. Now, I am not worried. Thank you so much.

    Agreed, unfortunately to get a good idea of your credit, you need to run your credit with each of the following:

    Experian
    Equifax
    Callcredit
    (one other i'm missing probably)

    Reason being, each lender uses a different agency, and each agency will give you a different score based on their weighting of each of your credit file records.

    Having said that, they all follow the same principles - pay your bills/loans on time or early every month, don't take out loans too often, don't have too many credit cards, or too little (one or two is fine), don't have too much debt in relation to your income, and don't just make minimum payments on your CCs. Also, never close accounts, leave them open at zero balance. Make sure you are on the electoral register, make sure you keep the same address for at least 3 years, try not to job hop, and don't spend your entire paycheque every month (easier said than done, hahah!)

    Original Poster

    fuhu78888

    Agreed, unfortunately to get a good idea of your credit, you need to run … Agreed, unfortunately to get a good idea of your credit, you need to run your credit with each of the following:ExperianEquifaxCallcredit(one other i'm missing probably)Reason being, each lender uses a different agency, and each agency will give you a different score based on their weighting of each of your credit file records.Having said that, they all follow the same principles - pay your bills/loans on time or early every month, don't take out loans too often, don't have too many credit cards, or too little (one or two is fine), don't have too much debt in relation to your income, and don't just make minimum payments on your CCs. Also, never close accounts, leave them open at zero balance. Make sure you are on the electoral register, make sure you keep the same address for at least 3 years, try not to job hop, and don't spend your entire paycheque every month (easier said than done, hahah!)



    Thanks fuhu but now I am little confused. You are saying:

    * Never close any account, leave them open at zero - but many experts have advised to close the account not in use. - |Why?
    * I have four credit cards. I use them and pay in full unless I have a balance transfer offer where I pay the minimum or a little extra. - Is this fine?


    Because closed accounts could be closed for a number of reasons, for example, you owed money and decided to settle and now the account is closed. Whereas if you leave the account open but inactive, it shows you have a positive history with that creditor.

    I would say perhaps try to reduce to 2 main cards after you've paid off 'the big one'. Start by paying off the one with the most interest, then the next one, then work on getting your balance on your interest free one to as low as possible. a bit of debt in proportion to your income is OK, but a lot can scare lenders. I don't know the exact ratio, but I think it's safe to say having less than 5% of your income in debt is a good thing.

    *one caveat, which may answer why experts say close unused accounts, is if there is an annual fee associated with that account. obv not worth paying if you're not using the account at all, so in that instance it's worth closing. but too many closed accounts can look a bit dodgy to a lender, they'd rather see a long, steady history with creditors.
    Edited by: "fuhu78888" 24th Apr 2014
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